Hitachi
Hitachi
Bürkert
Fluid Control Systems
Locations
- Charlotte
Services Provided
- Transaction Management
Cresa Team
- Scott Dumler
Client Objectives
Bürkert is one of the world's leading manufacturers of measuring, controlling, and regulating systems for fluids and gases. Bürkert products are used in a wide range of industries and applications – including food and beverage processing, breweries and wineries, gas handling operations, water treatment facilities and pharmaceutical plants. Bürkert valves can be found in various medical equipment such as blood analyzers, dialysis machines and dental chairs.
Headquartered in Germany, Bürkert had been operating its first North American facility for 6 years, when we were first engaged to assist with their needs. Experiencing success and growth over that period brought with it the confidence to make a larger long-term commitment to the North American market, while also creating some challenges with their facility not meeting the immediate or long-term needs of the company.
Results
We were able to develop and execute on the following two-part strategy:
Phase 1 - Immediate renewal and expansion
- Renewal. Facilitated a short-term renewal of existing space.
- Expansion. Executed the lease of additional space within the same business park. Negotiated a shorter term and within a short timeline, in order to provide immediate relief to the growth pressures that the client was experiencing, while maintaining a strategic timeline that accommodated the long-term facility goals.
Phase 2 - HQ site selection and execution
- Lease versus own. Evaluated financial considerations for lease versus own scenarios. Bürkert ended up owning its facility.
- Site selection. Executed a site selection process that included reviewing, touring and meeting with various stakeholders from multiple municipalities.
- Additions to the strategic real estate team. Engaged a design, construction and incentives team to develop a facility in line with Bürkert's operational and financial goals.
- Campus and facility delivery. Project scope included the delivery of a 94-acre campus with a 120,000 SF high-tech manufacturing, training and innovation center. Bürkert received economic development incentive grants and a project timeline of approximately 3 years.